Madras HC : For valuation of Cosntruction, State PWD rates to be adopted over CPWD

In a recent decision, the Hon’ble Madras HC has held that for the purposes of valuation of construction of any building for computing undisclosed investment under section 69 of Income Tax Act, 1961, in case of conflict in State PWD Rates and Central PWD Rates, State PWD Rates are to be adopted.

For complete text of judgement, click here State PWD or central PWD for Valutaion-Madras HC